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BASF: agreement with IPP for the sale of plants

( - BASF announces that it has reached an agreement with International Process Plants (IPP), a global specialist in the acquisition/sale of process plants and equipment.

The purpose of the agreement is to market the ammonia, methanol and melamine plants located at BASF's Verbund site in Ludwigshafen (Germany).

These plants have become available as BASF implements structural measures at Ludwigshafen to ensure its competitiveness in a changing European market environment.

Specifically, BASF will continue to produce ammonia and methanol from other assets at the Ludwigshafen site.

BASF and IPP have agreed not to disclose the financial terms of the deal.

In detail, the agreement covers the integrated production assets for ammonia (380,000 tons/year), methanol (165,000 tons/year) and melamine (51,000 tons/year).

IPP is offering these production units to qualified buyers with plans for such assets, looking for 'lower' capital expenditure opportunities with 'shorter' lead times.

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